Oct 14, 2021 (StockMarket.com via COMTEX) -- Hot 5G Stocks That Could Potentially Boost Your Portfolio
Technology has been evolving at a frantic pace over the past few years. Ideas such as augmented reality, autonomous driving, and even commercial space travel are now a reality. That said, something like 5G technology is something most consumers can relate to. Hence, 5G stocks are among the most discussed topics among stock market investors this year. Recently, QUALCOMM's ( NASDAQ: QCOM ) CEO highlighted the potential of combining edge computing and 5G devices connected to the cloud to bring new capabilities to various industries. By delivering real-time data and border contextual information, we could be seeing radical changes like never before.
In addition, Dell Technologies ( NYSE: DELL ) also aims to push deeper into the 5G space by releasing new software. The company is leveraging the Open Radio Access Network (O-RAN) that lets telecommunication carriers use software to run network functions on standardized computing hardware. This means that carriers may not need to purchase certain specialized equipment for 5G. Could this be a game-changer for 5G technology in the long run? Well, only time will tell. That said, it has drawn interest even from the U.S. government. We can all agree that everyone looks forward to the day 5G becomes accessible to everyone. With that in mind, here are 4 top 5G stocks that you could capitalize on in the stock market today .
Best 5G Stocks To Buy [Or Sell] Now
Marvell Technology Inc ( NASDAQ: MRVL )
American Tower Corp ( NYSE: AMT )
Verizon Communications Inc ( NYSE: VZ )
AT&T Inc. ( NYSE: T )
First, we will be looking at Marvell Technology. The data infrastructure semiconductor provider plays an important role in rolling out 5G. The company helps telecom carriers deploy 5G networks across the world. It supplies chips to the likes of Nokia ( NYSE: NOK ) and Samsung. MRVL stock has been on a bullish run this year, rising more than 35% since the start of the year.
On Tuesday, the company announced that its Prestera Ethernet switch platforms incorporating Dent are being deployed by enterprise customers worldwide. This enables a new era of autonomous networking. With these deployments in place, the company is helping to accelerate the build-out of Ethernet switching infrastructure in emerging applications, such as autonomous retail. Therefore, retailers can transform physical stores into smart retail-connected environments.
On top of that, Marvell has also finally completed its acquisition of Innovium. The acquisition complements the company by extending Marvell's leadership in the cloud. Also, it would allow Marvell to immediately participate in the fastest-growing segment of the switch market with a cloud-optimized solution. Given these developments, would you invest in MRVL stock now?
Following that, we have American Tower on the list. Essentially, it is a holding company that operates as a real estate investment trust (REIT). The company owns, operates, and develops multitenant communications real estate. Its portfolio has more than 214,000 communication sites, including more than 43,000 properties in the U.S. and Canada.
The company has its hands in the 5G industry by providing its vast network of towers. American Tower claims to have the largest portfolio of broadcast towers in the U.S. Its shared wireless infrastructure solutions serve as the foundation for tomorrow's 5G, Internet of Things (IoT), and NEXTGEN TV technologies. The company would stand to benefit long-term as 5G technology continues to grow.
Now that the company will be reporting its third-quarter earnings on October 28, let us take this opportunity to review its previous performance. During its second quarter, its revenue increased 20.2% to $2.29 billion. Meanwhile, its net income skyrocketed by 66.8% to $748 million. So, do you think American Towers will be able to maintain its growth trajectory? If so, would you invest in AMT stock ahead of its earnings report?
Another top 5G company today would be Verizon. This is a company that provides communications, information, and entertainment products and services. Most would be familiar with its wireless services that are provided across the U.S. under the Verizon brand. Lately, the company has been pushing hard in the 5G space to bring better services to its customers.
For instance, you can now access Verizon's 5G wherever you are, whether you're at home, at work, or on the go. Its 5G Home Internet is now available in 60 cities, 5G Ultra Wideband mobility in nearly 90 cities, and 5G Business Internet has expanded to 57 cities. Moreover, its Verizon Business unlimited plans give you the option for a mobile hotspot for as low as $30 a line. When it comes to 5G, connectivity and speed are of utmost importance for most consumers and Verizon has gotten that covered.
It is also noteworthy that the company and CareAR have announced a strategic partnership earlier this month. The partnership aims to transform the service and customer experience CareAR delivers. Technicians will be able to remotely and proactively resolve service issues faster, smarter, and more safely with Verizon's 4G and 5G networks on board. Overall, the company appears to be firing on all cylinders in the 5G space. With that in mind, do you think VZ stock is an attractive stock to buy?
Similar to Verizon, AT&T is a holding company that provides telecommunications, media, and technology services globally. However, it also has a WarnerMedia segment that develops, produces, and distributes feature films, television, gaming, and other content. While it may be true that T stock has been under pressure in recent months, there are reasons to believe it could potentially make a turnaround soon.
For starters, the company partnered with Frontier Communications last week to bring fiber-optic connectivity to large enterprise customers outside AT&T's current footprint. Hence, it will be able to reach out to large enterprise customers in markets where it does not own a fiber network. The agreement will also benefit AT&T as it will support the deployment of its 5G mobility network.
Not to mention, AT&T has recently selected Ericsson ( NASDAQ: ERIC ) to help build its 5G network in the U.S. The deal helps support the deployment of the service provider's recently acquired C-band spectrum and the launch of 5G Standalone. This is significant as it will help AT&T to bring its 5G network to more consumers, businesses, and first responders across key industries. All things considered, could T stock be a viable investment at its current price?
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